Exam term
Down payment
The buyer's cash paid toward the purchase price at closing. Earnest money is commonly credited toward it but is not the whole down payment.
Lessons that use this term
- Real estate arithmetic: area, percentages, and commissions California
- Conventional loans and private mortgage insurance Florida
- Contract preparation: data, the mortgage contingency, the down payment, and signing practice New York
- Earnest money, equitable title, and contingencies Texas
- Loan math: interest, LTV, points, amortization, and PITI Texas